Golden Minerals (AUMN) 10-Q19 Nov 242024 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2024	Nov. 15, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	1-13627
Entity Registrant Name	Golden Minerals Co
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-4413382
Entity Address, Address Line One	350 INDIANA STREET, SUITE 650
Entity Address, City or Town	GOLDEN
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80401
City Area Code	303
Local Phone Number	839-5060
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	AUMN
Security Exchange Name	NYSEAMER
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		15,053,048
Entity Central Index Key	0001011509
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Sep. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents (Note 5)		$ 1,777	$ 3,766
Short-term investments			11
Accounts receivable		7	51
Value added tax receivable, net (Note 7)		239	3,135
Prepaid expenses and other assets (Note 6)		504	921
Current assets held for sale (Note 3)			830
Total current assets		2,527	8,714
Property, plant and equipment, net (Note 8)		387	443
Investments		265	265
Right-of-use assets		35	110
Assets held for sale (Note 3)		2,889	5,378
Total assets		6,103	14,910
Current liabilities
Accounts payable and other accrued liabilities (Note 9)		3,272	4,899
Other current liabilities (Note 11)		251	774
Current liabilities held for sale (Note 3)		1,016
Total current liabilities		4,539	5,673
Asset retirement and reclamation liabilities (Note 10)		305	296
Other long-term liabilities (Note 11)			28
Liabilities held for sale (Note 3)		2,941	3,800
Total liabilities		7,785	9,797
Commitments and contingencies (Note 16)
Equity (deficit) (Note 14)
Common stock, $.01 par value, 100,000,000 shares authorized; 15,053,048 and 14,084,680 shares issued and outstanding, respectively	[1]	150	141
Additional paid-in capital		552,469	552,160
Accumulated deficit		(554,301)	(547,188)
Shareholders' equity (deficit)		(1,682)	5,113
Total liabilities and equity (deficit)		$ 6,103	$ 14,910

[1] Reflects the one-for- 25 reverse stock split that became effective June 9, 2023. Refer to Note 1, Basis of Preparation of Financial Statements and Nature of Operations .

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical)	Sep. 30, 2024 $ / shares shares	Dec. 31, 2023 $ / shares shares
CONDENSED CONSOLIDATED BALANCE SHEETS
Common stock, par value (in dollars per share) \| $ / shares	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	15,053,048	14,084,680
Common stock, shares outstanding (in shares)	15,053,048	14,084,680

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenue:
Sale of metals (Note 15)			$ 2,512		$ 11,702
Total revenue			2,512		11,702
Costs and expenses:
Cost of metals sold (exclusive of depreciation shown below) (Note 15)			(3,320)		(11,225)
Exploration expense		$ (377)	(726)	$ (1,164)	(2,898)
Administrative expense		(815)	(1,111)	(2,961)	(3,658)
Stock-based compensation		(80)	(92)	(337)	(324)
Other operating income, net		697	428	639	505
Depreciation and amortization		(7)	(44)	(44)	(73)
Total costs and expenses		(582)	(4,865)	(3,867)	(17,673)
Loss from operations		(582)	(2,353)	(3,867)	(5,971)
Other income (expense):
Interest and other income (expense), net		7	18	28	13
Gain (loss) on foreign currency transactions		24	(14)	(69)	91
Litigation settlement (Note 16)			(250)		(250)
Total other income (expense)		31	(246)	(41)	(146)
Loss from operations before income taxes and discontinued operations		(551)	(2,599)	(3,908)	(6,117)
Loss from continuing operations		(551)	(2,599)	(3,908)	(6,117)
Gain (loss) from discontinued operations, net of taxes (Note 3)		750	(578)	(3,205)	(1,814)
Net gain (loss)		$ 199	$ (3,177)	$ (7,113)	$ (7,931)
Net gain (loss) per common share - basic
Continuing operations	[1]	$ (0.04)	$ (0.31)	$ (0.27)	$ (0.82)
Discontinued operations	[1]	0.05	(0.07)	(0.22)	(0.24)
Net gain (loss) per common share - basic (in dollars per share)	[1]	$ 0.01	$ (0.38)	$ (0.49)	$ (1.06)
Weighted-average shares outstanding - basic (in shares)	[2]	15,035,259	8,378,001	14,607,703	7,466,444

[1] Reflects the one-for- 25 reverse stock split that became effective June 9, 2023. Refer to Note 1, Basis of Preparation of Financial Statements and Nature of Operations . Potentially dilutive shares have not been included for loss periods because to do so would be anti-dilutive. Potentially dilutive shares at September 30, 2024, consist of 1,070,079 equivalent shares related to stock compensation and 10,819,742 equivalent shares related to outstanding warrants. Potentially dilutive shares at September 30, 2023, consist of 408,545 equivalent shares related to stock compensation and 1,819,742 equivalent shares related to outstanding warrants. See Note 14 for a discussion of stock-based compensation and warrants.

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical)	9 Months Ended
	Sep. 30, 2024 shares	Sep. 30, 2023 shares
Employee Stock Option
Dilutive shares	1,070,079	408,545
Warrant
Dilutive shares	10,819,742	1,819,742

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net loss	$ (7,113)	$ (7,931)
Loss from discontinued operations	3,205	1,814
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	44	73
Loss on trading securities	11	9
Gain on sale of assets	(100)	(20)
Stock-based compensation	337	324
Changes in operating assets and liabilities:
Accounts receivable	44	211
Inventories, net		809
Value added tax receivable, net	2,896	(1,679)
Prepaid expenses and other assets	417	(10)
Right-of-use assets	75	192
Accounts payable and other accrued liabilities	(1,627)	1,327
Other current liabilities	(523)	(228)
Asset retirement and reclamation liabilities	9	150
Other long-term liabilities	(28)	(82)
Net cash used in operating activities - continuing operations	(2,353)	(5,041)
Net cash used in operating activities - discontinued operations	(3,245)	(1,516)
Net cash used in operating activities	(5,598)	(6,557)
Cash flows from investing activities:
Proceeds from sale of assets	139	44
Investment in Golden Gryphon		(40)
Acquisitions of property, plant and equipment	(27)
Net cash provided by investing activities - continuing operations	112	4
Net cash provided by investing activities - discontinued operations	3,516	470
Net cash provided by investing activities	3,628	474
Cash flows from financing activities:
Proceeds from issuance of common stock, net of issuance costs		3,694
Common stock shares relinquished to pay taxes	(19)
Net cash (used in) provided by financing activities - continuing operations	(19)	3,694
Net cash (used in) provided by financing activities	(19)	3,694
Net decrease in cash and cash equivalents	(1,989)	(2,389)
Cash and cash equivalents, beginning of period	3,766	3,972
Cash and cash equivalents, end of period	1,777	1,583
Supplemental disclosure:
Interest paid	$ 12	17
Supplemental disclosure of non-cash transactions:
Deferred equity offering costs amortized		$ 45

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands		Common Stock		Additional Paid-in Capital	Accumulated Deficit	Total
Balance at Dec. 31, 2022		$ 68	[1]	$ 544,372	$ (537,960)	$ 6,480
Balance (in shares) at Dec. 31, 2022	[1]	6,836,735
Increase (Decrease) in Stockholders' Equity
Stock compensation accrued (Note 14)				189		189
Shares issued under the at-the-market offering agreement, net		$ 1	[1]	677		678
Shares issued under the at-the-market offering agreement, net (in shares)	[1]	109,999
Net loss					(3,266)	(3,266)
Balance at Mar. 31, 2023		$ 69	[1]	545,238	(541,226)	4,081
Balance (in shares) at Mar. 31, 2023	[1]	6,946,734
Balance at Dec. 31, 2022		$ 68	[1]	544,372	(537,960)	6,480
Balance (in shares) at Dec. 31, 2022	[1]	6,836,735
Increase (Decrease) in Stockholders' Equity
Net loss						(7,931)
Balance at Sep. 30, 2023		$ 86	[1]	548,328	(545,891)	2,523
Balance (in shares) at Sep. 30, 2023	[1]	8,573,252
Balance at Mar. 31, 2023		$ 69	[1]	545,238	(541,226)	4,081
Balance (in shares) at Mar. 31, 2023	[1]	6,946,734
Increase (Decrease) in Stockholders' Equity
Stock compensation accrued (Note 14)				43		43
Shares issued under the at-the-market offering agreement, net		$ 2	[1]	1,115		1,117
Shares issued under the at-the-market offering agreement, net (in shares)	[1]	198,931
Offering and private placement transaction (Note 14)		$ 8	[1]	1,847		1,855
Offering and private placement transaction (Note 14) (in shares)	[1]	790,000
Net loss					(1,488)	(1,488)
Balance at Jun. 30, 2023		$ 79	[1]	548,243	(542,714)	5,608
Balance (in shares) at Jun. 30, 2023	[1]	7,935,665
Increase (Decrease) in Stockholders' Equity
Stock compensation accrued and restricted stock awards granted (Note 14)				92		92
Warrants exercised (Note 14)		$ 7	[1]	(7)
Warrants exercised (Note 14) (in shares)	[1]	637,587
Net loss					(3,177)	(3,177)
Balance at Sep. 30, 2023		$ 86	[1]	548,328	(545,891)	2,523
Balance (in shares) at Sep. 30, 2023	[1]	8,573,252
Balance at Dec. 31, 2023		$ 141	[1]	552,160	(547,188)	5,113
Balance (in shares) at Dec. 31, 2023	[1]	14,084,680
Increase (Decrease) in Stockholders' Equity
Stock compensation accrued (Note 14)				73		73
Stock compensation accrued (Note 14) (in shares)	[1]	(1,067)
Warrants exercised (Note 14)		$ 5	[1]	(5)
Warrants exercised (Note 14) (in shares)	[1]	488,572
Net loss					(4,565)	(4,565)
Balance at Mar. 31, 2024		$ 146	[1]	552,228	(551,753)	621
Balance (in shares) at Mar. 31, 2024	[1]	14,572,185
Balance at Dec. 31, 2023		$ 141	[1]	552,160	(547,188)	5,113
Balance (in shares) at Dec. 31, 2023	[1]	14,084,680
Increase (Decrease) in Stockholders' Equity
Net loss						(7,113)
Balance at Sep. 30, 2024		$ 150	[1]	552,469	(554,301)	(1,682)
Balance (in shares) at Sep. 30, 2024	[1]	15,053,048
Balance at Mar. 31, 2024		$ 146	[1]	552,228	(551,753)	621
Balance (in shares) at Mar. 31, 2024	[1]	14,572,185
Increase (Decrease) in Stockholders' Equity
Stock compensation accrued (Note 14)				184		184
KELTIP and RSU shares issued net of shares relinquished to cover withholding taxes (Note 14)		$ 4	[1]	(23)		(19)
KELTIP and RSU shares issued net of shares relinquished to cover withholding taxes (Note 14) (in shares)	[1]	433,370
Net loss					(2,747)	(2,747)
Balance at Jun. 30, 2024		$ 150	[1]	552,389	(554,500)	(1,961)
Balance (in shares) at Jun. 30, 2024	[1]	15,005,555
Increase (Decrease) in Stockholders' Equity
Stock compensation accrued (Note 14) (in shares)	[1]	47,493
Stock compensation accrued and shares issued for vested stock awards (Note 14)				80		80
Net loss					199	199
Balance at Sep. 30, 2024		$ 150	[1]	$ 552,469	$ (554,301)	$ (1,682)
Balance (in shares) at Sep. 30, 2024	[1]	15,053,048

[1] (1) Reflects the one-for- 25 reverse stock split that became effective June 9, 2023. Refer to Note 1, Basis of Preparation of Financial Statements and Nature of Operations .

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical)	Jun. 09, 2023
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
Reverse stock split	0.04

Basis of Preparation of Financi

Basis of Preparation of Financial Statements and Nature of Operations	9 Months Ended
	Sep. 30, 2024
Basis of Preparation of Financial Statements and Nature of Operations
Basis of Preparation of Financial Statements and Nature of Operations	1. Basis of Preparation of Financial Statements and ature of Operations Golden Minerals Company (the “Company” “we” “our” or “us”), a Delaware corporation, has prepared these unaudited interim condensed consolidated financial statements in accordance with accounting principles generally accepted in the United States (“GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”). The interim condensed consolidated financial statements do not include all disclosures required by GAAP for annual financial statements, but in the opinion of management, include all adjustments necessary for a fair presentation. Certain prior period amounts may have been reclassified to conform to current classifications. Interim results are not necessarily indicative of results for a full year; accordingly, these interim condensed consolidated financial statements should be read in conjunction with the annual financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the SEC on March 19, 2024 (the “2023 Annual Report”). The Company is considered an exploration stage issuer under the criteria set forth by the SEC under Subpart 1300 of Regulation S-K (“S-K 1300”) as the Company has not yet demonstrated the existence of mineral reserves at any of the Company’s properties. As a result, and in accordance with GAAP for exploration stage companies, all expenditures for exploration and evaluation of the Company’s properties are expensed as incurred. As such, the Company’s financial statements may not be comparable to the financial statements of mining companies that have proven and probable mineral reserves. Such companies would typically capitalize certain development costs including infrastructure development and mining activities to access the ore. The capitalized costs would be amortized on a units-of-production basis as reserves are mined. The amortized costs are typically allocated to inventory and eventually to cost of sales as the inventories are sold. As the Company does not have proven and probable mineral reserves, substantially all expenditures at the Company’s Rodeo Property and the Velardeña Properties for mine construction activity, as well as operating costs associated with the mill facilities, and for items that do not have a readily identifiable market value apart from the mineralized material, have been expensed as incurred. Such costs are charged to cost of metals sold or project expense during the period depending on the nature of the costs. Certain costs may be reflected in inventories prior to the sale of the product. The Company cannot be certain that any deposits at any of its properties will ever be confirmed or converted into S-K 1300 compliant “reserves.” Reverse Stock Split On May 26, 2023, the Company’s Board of Directors approved a reverse stock split (the “Reverse Stock Split”) of the Company’s common stock, par value $0.01 per share, at a ratio of one-for- 25 Accordingly, all share and per share data (including share and per share information related to share-based compensation and outstanding warrants), number of shares outstanding, and other common stock equivalents for the periods presented in the accompanying interim condensed consolidated financial statements and notes thereto have been adjusted retroactively, where applicable, to reflect the Reverse Stock Split.

Liquidity, Capital Resources an

Liquidity, Capital Resources and Going Concern	9 Months Ended
Liquidity, Capital Resources and Going Concern	Sep. 30, 2024
Liquidity, Capital Resources and Going Concern
Liquidity, Capital Resources and Going Concern	2. Liquidity, Capital Resources and Going Concern We do not currently have sufficient resources to meet our expected cash needs during the twelve months ending September 30, 2025. At September 30, 2024, we had current assets of approximately $2.5 million, including cash and cash equivalents of approximately $1.8 million. On the same date, we had accounts payable and other current liabilities of approximately $4.5 million, which includes $1.0 million in deferred revenue for the sale of the Velardeña oxide plant and water wells recorded within Current liabilities held for sale and other minor remaining Velardeña assets (see Note 19). With the receipt of the proceeds from the sale of Silex Argentina, and approximately $0.3 million of additional payments for the Velardeña assets, as of November 15, 2024 the Company has cash and cash equivalents of approximately $3.6 million and accounts payable of approximately $1.2 million. The Company’s only near-term opportunity to generate cash flow to meet its expected cash requirements is from the sale of assets, equity or other external financing. The Company is evaluating and pursuing alternatives, including the potential sale of the Company, finalizing the sale of its assets at the Velardeña Properties and Yoquivo, seeking buyers or partners for the Company’s other assets or obtaining equity or other external financing. In the absence of additional cash inflows, the Company anticipates that its cash resources will be exhausted in the second quarter of 2025. If we are unable to obtain additional cash resources or sell the Company, we will be forced to cease operations and liquidate. We will require further sources of capital. In order to satisfy the Company’s projected general, administrative, exploration and other expenses through September 30, 2025, we will need approximately $1.5 to $3.5 million in capital inflows. These capital inflows may take the form of asset sales, equity or other external financing activities, collection of the outstanding amounts due on the sale of the remaining Velardeña Properties and Yoquivo, or from other sources. The Company also continues to evaluate other strategic transactions. These interim condensed consolidated financial statements have been prepared on a going concern basis under which an entity is considered to be able to realize its assets and satisfy its liabilities in the normal course of business. However, as noted above, our continuing operations will be dependent upon our ability to secure sufficient funding to support future operations. The amounts shown as mineral properties in our interim condensed consolidated financial statements are dependent on our ability to sell certain assets of the Company and receive future equity or other financings to continue to fund general administrative, and exploration activities that would lead to profitable mining and processing activities or to generate proceeds from the disposition of mineral exploration properties. The ability of the Company to maintain a positive cash balance for a period of twelve months beyond the filing date of this Quarterly Report on Form 10-Q is dependent upon its ability to generate sufficient cash flow from the sale of assets, reduction of expenses, collection of VAT accounts receivable from the Mexican government, collection of the amount due from the buyers of the remaining Velardeña Properties and Yoquivo, and to raise sufficient funds through equity or other external financings or from other sources. These material uncertainties cast significant doubt on the Company’s ability to continue as a going concern. Therefore, the Company cannot conclude that substantial doubt does not exist as to the Company’s ability to continue as a going concern for the twelve months following the filing date of this Quarterly Report on Form 10-Q. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets or liabilities, which might be necessary should the Company not continue as a going concern.

Assets Held for Sale and Discon

Assets Held for Sale and Discontinued Operations	9 Months Ended
Assets Held for Sale and Discontinued Operations	Sep. 30, 2024
Assets Held for Sale and Discontinued Operations
Assets Held for Sale and Discontinued Operations	3. Assets Held for Sale and Discontinued Operations We classify long-lived assets, or disposal groups comprised of assets and liabilities, as held for sale in the period in which the following six criteria are met, (i) management, having the authority to approve the action, commits to a plan to sell the property; (ii) the property is available for immediate sale in its present condition, subject only to terms that are usual and customary; (iii) an active program to locate a buyer and other actions required to complete the plan to sell have been initiated; (iv) the sale of the property is probable and is expected to be completed within one year; (v) the property is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and (vi) actions necessary to complete the plan of sale indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn, in accordance with Accounting Standard Codification (“ASC”) 360, Property, Plant and Equipment The Company reports the results of operations of a business as discontinued operations if a disposal represents a strategic shift that has (or will have) a major effect on the Company’s operations and financial results when the business is classified as held for sale, in accordance with ASC 360, and ASC 205-20, Presentation of Financial Statements – Discontinued Operations Net loss from discontinued operations, net of tax Velardeña Properties In December 2023, the Company restarted operations at the Velardeña Properties. In February 2024, it was determined that the initial performance of both the mine and the processing plant did not achieve the expected results. On February 29, 2024, the Company announced that it elected to discontinue operations at the Velardeña Properties and hold them for sale. Following that date, the Company shut down the Velardeña Properties and has held them for sale. The Company previously announced the execution of certain asset purchase and sale agreements with a privately held Mexican company (the “Buyer”) to sell the Velardeña and Chicago mines, both oxide and sulfide processing plants and related equipment of the Velardeña Properties. Pursuant to the terms of the sale agreements, the Company agreed to sell certain mining concessions, equipment, land parcels and other assets in exchange for an aggregate purchase price of $5.5 million in cash, plus VAT. The terms of the sales agreement include completion and final payment of the sale by July 1, 2024. There were four separate sales agreements. The first three sales agreements which include the combined sales of the Velardeña and Chicago mines, the sulfide processing plant and various related equipment were completed on June 20, 2024. The Company received payment in full of $2.5 million cash, plus VAT, and titles to the assets were transferred to the Buyer. Velardeña Plant 2 The fourth agreement related to the sale of the Velardeña Properties covers the oxide plant and water wells (“Plant 2”), and the Buyer agreed to complete total payments of $3.0 million plus VAT on July 1, 2024. The Plant 2 agreement has not closed, and the Buyer is in default. In accordance with ASC 360, on June 30, 2024, the Company recorded an asset impairment charge of $411,000 in order to write down the remaining book value of Plant 2 to the salvage value which is equal to the amount received through June 30, 2024 from the Buyer of $373,000. Since June 30, 2024, the Buyer has continued to make periodic payments to the Company, and as of September 30, 2024, the Company has recorded deferred revenue of $1.0 million within Current liabilities held for sale Minera Labri On August 28, 2024, the Company sold its wholly owned Mexican subsidiary, Minera Labri S.A. de C.V. (“Minera Labri”), to a private Mexican company for approximately $445,000. Minera Labri previously owned the Velardeña Properties’ sulfide plant, which together with the Velardeña mines, was sold to another privately held Mexican group earlier in 2024. Upon consummation of that transaction, Minera Labri held no assets but held net operating losses and inflation-adjusted capital contributions. Under Mexican law, the balance of Minera Labri’s capital contribution accounts (“CUCAs”) may be bought and sold. Silex Argentina On August 30, 2024, the Company entered into a binding letter agreement (the “Letter Agreement”) with Butte Energy Inc. (“Butte”) pursuant to which Butte would acquire 100% of the issued and outstanding shares of Silex Argentina S.A. (the “Silex Shares”), the Company’s wholly owned subsidiary that owns the El Quevar Project, located in Salta Province, Argentina (“El Quevar”). The Letter Agreement was binding on the Company and Butte, pending (i) negotiation of a definitive Acquisition Agreement (the “Acquisition Agreement”) on or prior to September 30, 2024, and (ii) closing of the sales transaction for the Silex Shares (the “Transaction”) on or prior to October 31, 2024. The purchase price of the Silex Shares was $3.5 million, paid or payable in cash, as follows: (1) $500,000, as a non-refundable deposit, paid to the Company on September 3, 2024; (2) $500,000 payable to the Company upon execution of the Acquisition Agreement; and (3) $2.5 million payable to the Company upon closing of the Transaction. Closing of the Transaction was subject to additional conditions, including receipt of regulatory approvals, completion of due diligence review by Butte, and approvals from the board of directors of each of Butte and Golden. On September 27, 2024, the Company entered into the Acquisition Agreement with Butte and was paid $500,000 according to the terms of the Letter Agreement. In accordance with ASC 606, the Company recorded the $500,000 non-refundable deposit and the $500,000 paid to the Company upon execution of the Acquisition Agreement as revenue during the three months ended September 30, 2024 and the amounts are included in Gain (loss) from discontinued operations The following table summarizes the major line items for the Velardeña Properties and Silex Argentina that are included in Loss from discontinued operations, net of taxes Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (in thousands) (in thousands) Sale of metals $ 128 $ — $ 1,440 $ — Cost of metals sold (583) — (6,026) — Velardeña care and maintenance costs — (310) — (905) El Quevar Project Expenses (150) (117) (441) (435) Reclamation expense (59) (75) (212) (222) Asset impairment expense — — (411) — Other operating income, net 856 28 3,571 55 Severance, termination benefits and other operating costs 569 — (940) — Depreciation and amortization (11) (104) (186) (307) Loss from discontinued operations before income taxes 750 (578) (3,205) (1,814) Income taxes — — — — Loss from discontinued operations, net of taxes $ 750 $ (578) $ (3,205) $ (1,814) The following table summarizes the carrying amounts of major classes of assets and liabilities of discontinued operations for each of the periods presented: September 30, December 31, 2024 2023 (in thousands) Assets Inventories, net (1) $ — $ 830 Total current assets held for sale — 830 Property, plant and equipment, net (2) 2,889 5,378 Total assets held for sale $ 2,889 $ 6,208 Liabilities Current liabilities held for sale (3) 1,016 — Asset retirement and reclamation liabilities (4) 2,941 3,800 Total liabilities held for sale $ 3,957 $ 3,800 (1) Inventories, net at December 31, 2023 consisted of finished goods, in-process, and material and supplies inventories at the Velardeña Properties. (2) Property, plant and equipment, net at September 30, 2024 consisted of approximately $0.5 million of the remaining Velardeña Properties assets, and approximately $2.3 million related primarily to the Silex Argentina El Quevar mineral properties. Property, plant and equipment, net at December 31, 2023 consisted of approximately $3.0 million of the Velardeña Properties assets, and approximately $2.4 million related primarily to the Silex Argentina El Quevar mineral properties. (3) Current liabilities held for sale at September 30, 2024 represents deferred revenue for the sale of Velardeña Plant 2. (4) Asset retirement and reclamation liabilities at September 30, 2024 and December 31, 2023 relate to the Velardeña Properties.

New Accounting Pronouncements

New Accounting Pronouncements	9 Months Ended
New Accounting Pronouncements	Sep. 30, 2024
New Accounting Pronouncements
New Accounting Pronouncements	4. New Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures

Cash and Cash Equivalents

Cash and Cash Equivalents	9 Months Ended
Cash and Cash Equivalents	Sep. 30, 2024
Cash and Cash Equivalents
Cash and Cash Equivalents	5. Cash and Cash Equivalents Cash and Cash Equivalents The Company has reported $1.8 million and $3.8 million Cash and cash equivalents The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents.

Prepaid Expenses and Other Asse

Prepaid Expenses and Other Assets	9 Months Ended
Prepaid Expenses and Other Assets	Sep. 30, 2024
Prepaid Expenses and Other Assets
Prepaid Expenses and Other Assets	6. Prepaid Expenses and Other Assets Prepaid expenses and other current assets consist of the following: September 30, December 31, 2024 2023 (in thousands) Prepaid insurance $ 113 $ 319 Recoupable deposits and other 391 602 $ 504 $ 921

Value Added Tax Receivable, Net

Value Added Tax Receivable, Net	9 Months Ended
Value Added Tax Receivable, Net	Sep. 30, 2024
Value Added Tax Receivable, Net
Value Added Tax Receivable, Net	7. Value Added Tax Receivable, Net At September 30, 2024, the Company recorded a net VAT paid in Mexico of $0.2 million related to the Velardeña Properties and the Rodeo operation, as a recoverable asset, which appears in Value added tax receivable, net Mexico law allows for certain VAT payments to be recovered through ongoing applications for refunds. There is no certainty as to the amount or timing of such payment. Historically, the Company received VAT refund payments from the Mexican tax authorities on a timely basis. In 2023, however, the tax authorities began to delay the VAT refund process, and at December 31, 2023, the Company had recorded approximately $3.1 million of net VAT receivable. The decrease in the VAT receivable balance of approximately $2.9 million from December 31, 2023 to September 30, 2024 is primarily attributable to our collection of such balances in addition to the Company’s decision to discontinue operations at the Velardeña Properties. At September 30, 2024 and December 31, 2023, the Company recorded approximately $0.3 million and $0.8 million, respectively, of VAT payable as a reduction to the VAT receivable in Mexico. The Company has also paid VAT in other countries, primarily related to exploration projects, which has been charged to expense as incurred because of the uncertainty of recoverability.

Property, Plant and Equipment,

Property, Plant and Equipment, Net	9 Months Ended
Property, Plant and Equipment, Net	Sep. 30, 2024
Property, Plant and Equipment, Net
Property, Plant and Equipment, Net	8. Property, Plant and Equipment, Net September 30, December 31, 2024 2023 (in thousands) Exploration properties $ 150 $ 150 Royalty properties 200 200 Buildings — 48 Mining equipment and machinery 250 408 Other furniture and equipment 417 419 1,017 1,225 Less: Accumulated depreciation and amortization (630) (782) $ 387 $ 443

Accounts Payable and Other Accr

Accounts Payable and Other Accrued Liabilities	9 Months Ended
Accounts Payable and Other Accrued Liabilities	Sep. 30, 2024
Accounts Payable and Other Accrued Liabilities
Accounts Payable and Other Accrued Liabilities	9. Accounts Payable and Other Accrued Liabilities The Company’s accounts payable and other accrued liabilities consist of the following: September 30, December 31, 2024 2023 (in thousands) Accounts payable and accruals $ 2,513 $ 3,586 Accrued employee compensation and benefits 679 1,281 Income taxes payable (Note 13) 80 32 $ 3,272 $ 4,899

Asset Retirement and Reclamatio

Asset Retirement and Reclamation Liabilities	9 Months Ended
Asset Retirement and Reclamation Liabilities	Sep. 30, 2024
Asset Retirement and Reclamation Liabilities
Asset Retirement and Reclamation Liabilities	10. Asset Retirement and Reclamation Liabilities The Company has detailed closure plans for reclamation activity at the Rodeo Property. The Company stopped mining at the Rodeo Property in June 2023 and has up to three years to begin reclamation activities. The Company will continue to accrue additional estimated asset retirement obligation “ARO” amounts based on the closure plan and as activities requiring future reclamation and remediation occur. Asset retirement and reclamation liabilities consist of the following: September 30, December 31, 2024 2023 (in thousands) Current asset retirement and reclamation liabilities $ 150 $ 150 Non-current asset retirement and reclamation liabilities 305 296 $ 455 $ 446 Current asset retirement and reclamation liabilities is included in Other current liabilities The following table presents the changes in the Company’s asset retirement and reclamation liabilities for the nine months ended September 30, 2024 and 2023: Nine Months Ended September 30, 2024 2023 (in thousands) Balance at January 1, $ 446 $ 446 Changes in estimates, and other — — Accretion expense 9 — Balance at September 30, $ 455 $ 446

Other Liabilities

Other Liabilities	9 Months Ended
Other Liabilities	Sep. 30, 2024
Other Liabilities
Other Liabilities	11. Other Liabilities Other Current Liabilities September 30, December 31, 2024 2023 (in thousands) Insurance premium financing $ 55 $ 269 Operating lease liability 46 105 Litigation accrual (Note 16) — 250 Current asset retirement and reclamation liabilities 150 150 $ 251 $ 774 Other Long-Term Liabilities The following table sets forth the Company’s other long-term liabilities: September 30, December 31, 2024 2023 (in thousands) Operating lease liability $ — $ 10 Deposits and other — 18 $ — $ 28

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Sep. 30, 2024
Fair Value Measurements
Fair Value Measurements	12. Fair Value Measurements Financial assets and liabilities and nonfinancial assets and liabilities are measured at fair value on a recurring basis under a framework of a fair value hierarchy that prioritizes the inputs into valuation techniques used to measure fair value into three broad levels. This hierarchy gives the highest priority to quoted prices (unadjusted) in active markets and the lowest priority to unobservable inputs. Further, financial assets and liabilities should be classified by level in their entirety based upon the lowest level of input that was significant to the fair value measurement. The three levels of the fair value hierarchy per ASC Topic 820 are as follows: Level 1: Level 2: Level 3: The following table summarizes the Company’s financial assets and liabilities measured on a recurring basis at fair value by respective level of the fair value hierarchy: Level 1 Level 2 Level 3 Total (in thousands) At September 30, 2024 Assets: Cash and cash equivalents $ 1,777 $ — $ — $ 1,777 $ 1,777 $ — $ — $ 1,777 At December 31, 2023 Assets: Cash and cash equivalents $ 3,766 $ — $ — $ 3,766 Short-term investments 11 — — 11 $ 3,777 $ — $ — $ 3,777 The Company’s cash equivalents, comprised principally of U.S. treasury securities, are classified within Level 1 of the fair value hierarchy. The Company’s short-term investments consist of 200,000 shares of common stock of Fabled and 20,000 shares of Fabled Copper Corp. and are classified within Level 1 of the fair value hierarchy. At September 30, 2024 and December 31, 2023, the Company did not have any financial assets or liabilities classified within Level 2 or Level 3 of the fair value hierarchy.

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2024
Income Taxes
Income Taxes	13. Income Taxes The Company accounts for income taxes in accordance with the provisions of ASC Topic 740, Income Taxes In accordance with ASC 740, the Company presents deferred tax assets net of its deferred tax liabilities on a tax jurisdictional basis on its interim Condensed Consolidated Balance Sheets. As of September 30, 2024 and December 31, 2023, the Company had no deferred tax assets and no deferred tax liability on the interim Condensed Consolidated Balance Sheets due to a valuation allowance offsetting the net deferred tax assets of the Company. The Company, a Delaware corporation, and its subsidiaries file tax returns in the United States and in various foreign jurisdictions. The tax rules and regulations in these countries are highly complex and subject to interpretation. The Company’s income tax returns are subject to examination by the relevant taxing authorities and in connection with such examinations, disputes can arise with the taxing authorities over the interpretation or application of certain tax rules within the country involved. In accordance with ASC 740, the Company identifies and evaluates uncertain tax positions, and recognizes the impact of uncertain tax positions for which there is less than a more-likely-than-not probability of the position being upheld upon review by the relevant taxing authority. Such positions are deemed to be “unrecognized tax benefits,” which require additional disclosure and recognition of a liability within the financial statements. The Company had no unrecognized tax benefits at September 30, 2024 or December 31, 2023.

Equity

Equity	9 Months Ended
Equity	Sep. 30, 2024
Equity
Equity	14. Equity On May 26, 2023, the Company’s Board of Directors approved a reverse stock split of the common stock, par value $0.01 per share, of the Company at a ratio of one-for- 25 Accordingly, all common stock, equity award, warrant, and per share amounts have been adjusted to reflect the reverse stock split for all prior periods presented. For additional information related to the reverse stock split, see Note 1, Basis of Preparation of Financial Statements and Nature of Operations On May 9, 2024, the Company’s shareholders approved an increase to the Company’s authorized shares from 28,000,000 shares to 100,000,000 shares. To effect the increase in authorized shares, the Company filed an amendment to the Company’s Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware on May 13, 2024. June 2023 Offering and Private Placement Transaction On June 26, 2023, the Company entered into a Securities Purchase Agreement with certain institutional investors providing for the issuance and sale by the Company in a registered direct offering (the “June 2023 Offering”) of an aggregate of 790,000 shares of the Company’s common stock at a purchase price of $1.45 per share and pre-funded warrants exercisable for up to 637,587 shares of the Company’s common stock (the “June 2023 Pre-Funded Warrants”) at a purchase price of $1.4499 per June 2023 Pre-Funded Warrant. In a concurrent private placement (the “June 2023 Private Placement” and, together with the June 2023 Offering, the “June 2023 Transactions”), the Company agreed to issue warrants to purchase up to 1,427,587 shares of the Company’s common stock at an exercise price of $1.90 (the “June 2023 Warrants”). The aggregate net proceeds from the June 2023 Transactions were approximately $1.9 million. See – Common Stock Warrants November 2023 Public Offering On November 6, 2023, the Company entered into a Securities Purchase Agreement with certain institutional investors providing for the issuance and sale by the Company in a public offering (the “November 2023 Offering”) of (i) an aggregate of 4,712,488 shares of the Company’s common stock, par value $0.01 per share (the “Initial Shares”); (ii) Series A common warrants (the “November 2023 Series A Warrants”) to purchase 6,000,000 Common Shares; (iii) Series B warrants (the “November 2023 Series B Warrants”) to purchase 3,000,000 Common Shares; (iv) pre-funded warrants (the “November 2023 Pre-Funded Warrants”) to purchase 1,287,512 shares of the Company’s common stock Common Stock Warrants At-the-Market Offering Agreement During the nine months ended September 30, 2024, the Company did not sell any shares of common stock under the At-the-Market-Offering-Agreement Program (“ATM Program”). The ATM Program has not been in effect since the related Registration Statement on Form S-3 expired on October 1, 2023. During the nine months ended September 30, 2023, the Company sold an aggregate of 308,930 shares of common stock under the ATM Program at an average price of $6.19 per share of common stock for net proceeds, after commissions and fees, of approximately $1,839,000. There were no deferred ATM Program costs amortized during the nine months ended September 30, 2024. Approximately $45,000 of deferred ATM Program costs were amortized during the nine months ended September 30, 2023. At September 30, 2024 and December 31, 2023, there was no remaining balance of deferred ATM Program costs, recorded in Prepaid expenses and other assets Equity Incentive Plans Restricted Stock Grants The following table summarizes the status and activity of the Company’s restricted stock grants at September 30, 2024 and 2023, and the changes during the nine months then ended: Nine Months Ended September 30, 2024 2023 Weighted Weighted Average Average Grant Date Grant Date Number of Fair Value Number of Fair Value Restricted Stock Grants Shares Per Share Shares Per Share Outstanding at beginning of period 5,800 $ 8.89 19,800 $ 10.95 Granted during the period — — — — Restrictions lifted during the period (3,936) 9.75 (12,933) 11.97 Forfeited during the period (534) 9.75 — — Outstanding at end of period 1,330 $ 6.00 6,867 $ 9.02 Restricted Stock Units The following table summarizes the status and activity of the Company’s restricted stock units at September 30, 2024 and 2023, and the changes during the nine months then ended: Nine Months Ended September 30, 2024 2023 Weighted Weighted Average Average Grant Date Grant Date Number of Fair Value Number of Fair Value Restricted Stock Units Shares Per Share Shares Per Share Outstanding at beginning of period 272,409 $ 13.09 232,409 $ 15.06 Granted during the period 1,200,000 0.41 40,000 1.62 Shares issued during the period (373,493) 3.08 — — Forfeited during the period (28,837) 19.47 — — Outstanding at end of period 1,070,079 $ 2.36 272,409 $ 13.09 Key Employee Long-Term Incentive Plan There were zero and 168,000 Key Employee Long Term Incentive Plan (“KELTIP”) Units outstanding at September 30, 2024 and December 31, 2023, respectively. Under the 2023 Equity Incentive Plan (“the 2023 Plan”), the Company discontinued the KELTIP and will no longer issue KELTIP Units. Stock-Based Compensation Stock-based compensation expense for the periods presented is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in thousands) (in thousands) Restricted stock grants $ 1 $ 20 $ 19 $ 75 Restricted stock units 79 58 315 270 KELTIP units — 14 3 (21) $ 80 $ 92 $ 337 $ 324 Common Stock Warrants The following table summarizes the activity of the Company’s common stock warrants for the nine months ended September 30, 2024 and September 30, 2023. Nine Months Ended September 30, 2024 2023 Weighted Weighted Number of Average Number of Average Underlying Exercise Price Underlying Exercise Price Common Stock Warrants Shares Per Share Shares Share Outstanding at beginning of period 11,308,314 $ 1.09 392,155 $ 8.58 Granted during period — — 2,065,174 1.31 Exercised during period 2023 Pre-Funded Warrants (488,572) 0.0001 (637,587) 0.0001 Expired during the period — — — Outstanding at end of period 10,819,742 $ 1.14 1,819,742 $ 3.19 The common stock warrants relate to prior registered offerings and private placements of the Company’s stock. Common stock warrants outstanding as of September 30, 2024 are as follows: Number of Exercise Common Stock Warrants Warrants Price Expiration Date July 2019 Series A Warrants 338,155 $ 8.75 January 17, 2025 April 2020 Series A Warrants 44,000 $ 0.70 October 22, 2025 April 2020 Series B Warrants 10,000 $ 6.50 October 22, 2025 June 2023 Warrants 1,427,587 $ 1.90 December 26, 2028 November 2023 Series A Warrants 6,000,000 $ 0.70 November 6, 2028 November 2023 Series B Warrants 3,000,000 $ 0.70 May 6, 2025 10,819,742 All outstanding common stock warrants are recorded in equity at September 30, 2024 and December 31, 2023, following the guidance established by ASC Topic 815-40. The Company’s common stock warrants allow for potential settlement in cash if certain extraordinary events are effected by the Company, including a 50% or greater change of control in the Company’s common stock. Since those events have been deemed to be within the Company’s control, the Company continues to apply equity treatment for these common stock warrants.

Sale of Metals and Related Cost

Sale of Metals and Related Costs	9 Months Ended
Sale of Metals and Related Costs	Sep. 30, 2024
Sale of Metals and Related Costs
Sale of Metals and Related Costs	15. Sale of Metals and Related Costs The Company derived its 2023 revenue from the sale of doré, concentrates, and slag. No revenue has been derived from the sale of metals in 2024. The following table presents the Company’s net sales for each period presented (see Note 3): Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (in thousands) (in thousands) Doré sales $ — $ 2,123 $ — $ 9,974 Concentrate sales — 176 — 1,723 Slag and other sales — 256 — 543 Total revenue — 2,555 — 12,240 Less: Treatment, refining and shipping costs — (43) — (538) Total revenue, net $ — $ 2,512 $ — $ 11,702

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2024
Commitments and Contingencies
Commitments and Contingencies	16. Commitments and Contingencies Unifin Lawsuit During April 2021, the Company became aware of a lawsuit in Mexico against one of the Company’s Mexican subsidiaries, Minera William, S.A. de C.V. (“Minera William”). The plaintiff in the matter was Unifin Financiera, S.A.B de C.V. (“Unifin”). The lawsuit was assigned to the Fifth Specialized Commercial District Court. In November 2022, the Company was formally served with the complaint in connection with the lawsuit and in December 2022 the Company filed its answer to the complaint. As a preemptive measure, Unifin obtained a preliminary court order freezing Minera William’s bank accounts in Mexico, which limited the Company’s and Minera William’s ability to access approximately US$153,000 according to current currency exchange rates. The Company and Unifin agreed to settle the dispute in late 2023. An accrued liability was recorded for the settlement amount of $250,000 as of December 31, 2023 and for $113,000 as of March 31, 2024. During the first quarter of 2024, the Court unfroze the Minera William bank accounts, and the bank remitted the funds to Unifin as per the settlement agreement. Subsequent to March 31, 2024, the Company paid Unifin the remaining amount due under the agreement upon settlement. The court published a writ subsequent to March 31, 2024 stating that the parties had complied with the settlement agreement and declared that Unifin has withdrawn the lawsuit against Minera William. On June 13, 2024, the Trial Court published the judgment in the commercial oral proceeding initiated by Unifin against Minera William, Procesadora de Minerales de Durango, and Jorge Alberto Samaniego Mota. Since Unifin and Minera William had previously settled the dispute and Unifin desisted or withdrew its action against Minera William, the company was not condemned in the judgment. Procesadora de Minerales de Durango and Jorge Alberto Samaniego Mota were ordered to pay all the amounts claimed by Unifin. However, the judgment states that Minera William, Procesadora de Minerales de Durango, and Jorge Samaniego Mota are jointly and severally liable to Unifin. The Company believes the Judge should not have ruled on whether or not Minera William was jointly and severally liable. Moreover, the Judge did not assess Minera William’s arguments that it was not jointly and severally liable to Unifin. Minera William is appealing that ruling as it is clearly contrary to the settlement agreement between Unifin and Minera William. The Company currently believes that it is unlikely any future liability will arise from this judgement. Employee Labor Claims During the nine months ended September 30, 2024, 16 employees of some of the Company’s Mexican subsidiaries filed labor claims against the subsidiary companies claiming the companies had not compensated them properly for their termination. A severance accrual has been estimated and recorded in connection with these lawsuits for $230,000. Supplier Lawsuits During the nine months ended September 30, 2024, four suppliers of some of the Mexican subsidiaries filed lawsuits against the subsidiary companies for non-payment of services rendered. In total, the four suppliers are seeking approximately $214,000 and this amount is recorded in accounts payable as of September 30, 2024. The Company also has certain purchase and lease commitments as set forth in the Company’s 2023 Annual Report.

Segment Information

Segment Information	9 Months Ended
Segment Information	Sep. 30, 2024
Segment Information
Segment Information	17. Segment Information The Company’s reportable segments are based on the Company’s revenue-producing activities and cash-consuming activities. The Company reports two segments, one for its revenue-producing activities in Mexico, which includes the Rodeo Property, and the other comprised of non-revenue-producing activities, including exploration, construction and general and administrative activities. Intercompany revenue and expense amounts have been eliminated within each segment in order to report on the basis that management uses internally for evaluating segment performance. As described in Note 3, the Company’s Velardeña Properties and Silex Argentina met the criteria to be reported as discontinued operations during 2024. As such, the results of operations for this business are excluded from the Mexico Operations segment in the table below, which only reflects continuing operations, for all periods presented. Assets held for sale are included below in the total assets for the Corporate, Exploration and Other segment. The financial information relating to the Company’s segments is as follows: Exploration, El Costs Depreciation, Quevar, Velardeña Three Months Ended Applicable Depletion and and Administrative Capital September 30, 2024 Revenue to Sales Amortization Expense Pre-Tax Loss (Gain) Total Assets Expenditures Mexico Operations $ — $ — $ 7 $ — $ 401 $ — Corporate, Exploration and Other — — — 1,192 150 — Consolidated $ — $ — $ 7 $ 1,192 $ 551 $ — Nine Months Ended September 30, 2024 Mexico Operations $ — $ — $ 43 $ 510 $ 1,189 $ 744 $ 28 Corporate, Exploration and Other — — 1 3,615 2,719 5,359 — Consolidated $ — $ — $ 44 $ 4,125 $ 3,908 $ 6,103 $ 28 Three Months Ended September 30, 2023 Mexico Operations $ 2,512 $ 3,320 $ 42 $ 408 $ 2,865 $ — Corporate, Exploration and Other — — 2 1,429 (266) — Consolidated $ 2,512 $ 3,320 $ 44 $ 1,837 $ 2,599 $ — Nine Months Ended September 30, 2023 Mexico Operations $ 11,702 $ 11,225 $ 71 $ 1,940 $ 3,099 $ 7,727 $ — Corporate, Exploration and Other — — 2 4,616 3,018 4,577 — Consolidated $ 11,702 $ 11,225 $ 73 $ 6,556 $ 6,117 $ 12,304 $ —

Related Party Transactions

Related Party Transactions	9 Months Ended
Related Party Transactions	Sep. 30, 2024
Related Party Transactions
Related Party Transactions	18. Related Party Transactions The following sets forth information regarding transactions between the Company (and its subsidiaries) and its officers, directors and significant stockholders. Administrative Services, Lease of Equipment: Beginning in August 2016, the Company began providing limited accounting and other administrative services to Minera Indé, an indirect subsidiary of The Sentient Group (“Sentient”). Sentient, through the Sentient executive funds, previously held a significant percentage of the Company’s issued and outstanding shares of common stock. As of September 30, 2024, Sentient has sold their shares of the Company and is no longer considered a related party. In addition, the Company is no longer providing services to Minera Indé as of September 30, 2024.

Subsequent Events

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2024
Subsequent Events
Subsequent Events	19. Subsequent Events Velardeña Plant 2 Asset Sale Agreement Subsequent to September 30, 2024, the Plant 2 Buyer made additional payments of approximately $0.3 million bringing the total amounts paid through November 15, 2024 to approximately $1.3 million, but the Buyer remains in default. As of November 15, 2024, the Company is still owed $1.7 million, plus VAT, of the $3.0 million purchase price for the Velardeña oxide plant and water wells and other minor remaining Velardeña assets. We do not know whether or when the Buyer will make the remaining payments due. We are continuing to negotiate an extension of the agreement which would allow for the transfer of the title of Plant 2 and the ARO liability to the Buyer and the Company would hold a mortgage to secure the payment. Closing of the Silex Argentina Transaction On October 24, 2024, the Company completed the sale of 100% of the issued and outstanding shares of Silex Argentina S.A., the Company’s wholly owned subsidiary that holds the El Quevar Project located in Salta Province, Argentina, to Butte Energy Inc. In connection with the closing of the Transaction, the Company received the remaining $2.5 million in cash per the terms of the Acquisition Agreement. Yoquivo Project On October 25, 2024 the Company announced it had signed a binding agreement (the “Agreement”) to sell its Yoquivo gold-silver project (located in Chihuahua State, Mexico) (the “Yoquivo Project”) to Advance Metals Limited (“AVM”) (the “Yoquivo Transaction”). Under the terms of the Agreement, AVM shall purchase 100% of the Yoquivo Project from Minera de Cordilleras S. de R.L. de C.V., a wholly-owned subsidiary of Golden Minerals, for total consideration of $570,000 (the “Purchase Price”), payable in cash, plus VAT, as follows: (1) a non-refundable cash payment of $20,000, plus VAT, for AVM to have the right to carry out due diligence for a seven-day exclusive period, beginning on October 24, 2024, (2) on November 1, 2024, AVM made a $275,000 cash payment, plus VAT, to the Company, and (3) on November 21, 2024, AVM shall make a final $275,000 cash payment, plus VAT, to the Company (collectively, the “Transaction Payments”). The Company has received the first two payments, totaling $295,000 plus VAT. Closing of the Yoquivo Transaction will be subject to additional conditions, including receipt of regulatory approvals and completion of due diligence review by AVM. In the event that AVM decides not to complete the Yoquivo Transaction, AVM will be subject to a breakup fee of 20% of the Purchase Price.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 199	$ (2,747)	$ (4,565)	$ (3,177)	$ (1,488)	$ (3,266)	$ (7,113)	$ (7,931)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Assets Held for Sale and Disc_2

Assets Held for Sale and Discontinued Operations (Tables)	9 Months Ended
Assets Held for Sale and Discontinued Operations (Tables)	Sep. 30, 2024
Assets Held for Sale and Discontinued Operations
Schedule of disclosure of discontinued operation	Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (in thousands) (in thousands) Sale of metals $ 128 $ — $ 1,440 $ — Cost of metals sold (583) — (6,026) — Velardeña care and maintenance costs — (310) — (905) El Quevar Project Expenses (150) (117) (441) (435) Reclamation expense (59) (75) (212) (222) Asset impairment expense — — (411) — Other operating income, net 856 28 3,571 55 Severance, termination benefits and other operating costs 569 — (940) — Depreciation and amortization (11) (104) (186) (307) Loss from discontinued operations before income taxes 750 (578) (3,205) (1,814) Income taxes — — — — Loss from discontinued operations, net of taxes $ 750 $ (578) $ (3,205) $ (1,814) September 30, December 31, 2024 2023 (in thousands) Assets Inventories, net (1) $ — $ 830 Total current assets held for sale — 830 Property, plant and equipment, net (2) 2,889 5,378 Total assets held for sale $ 2,889 $ 6,208 Liabilities Current liabilities held for sale (3) 1,016 — Asset retirement and reclamation liabilities (4) 2,941 3,800 Total liabilities held for sale $ 3,957 $ 3,800 (1) Inventories, net at December 31, 2023 consisted of finished goods, in-process, and material and supplies inventories at the Velardeña Properties. (2) Property, plant and equipment, net at September 30, 2024 consisted of approximately $0.5 million of the remaining Velardeña Properties assets, and approximately $2.3 million related primarily to the Silex Argentina El Quevar mineral properties. Property, plant and equipment, net at December 31, 2023 consisted of approximately $3.0 million of the Velardeña Properties assets, and approximately $2.4 million related primarily to the Silex Argentina El Quevar mineral properties. (3) Current liabilities held for sale at September 30, 2024 represents deferred revenue for the sale of Velardeña Plant 2. (4) Asset retirement and reclamation liabilities at September 30, 2024 and December 31, 2023 relate to the Velardeña Properties.

Prepaid Expenses and Other As_2

Prepaid Expenses and Other Assets (Tables)	9 Months Ended
Prepaid Expenses and Other Assets (Tables)	Sep. 30, 2024
Prepaid Expenses and Other Assets
Schedule of prepaid expenses and other current assets	September 30, December 31, 2024 2023 (in thousands) Prepaid insurance $ 113 $ 319 Recoupable deposits and other 391 602 $ 504 $ 921

Property, Plant and Equipment_2

Property, Plant and Equipment, Net (Tables)	9 Months Ended
Property, Plant and Equipment, Net (Tables)	Sep. 30, 2024
Property, Plant and Equipment, Net
Schedule of components of property, plant and equipment	September 30, December 31, 2024 2023 (in thousands) Exploration properties $ 150 $ 150 Royalty properties 200 200 Buildings — 48 Mining equipment and machinery 250 408 Other furniture and equipment 417 419 1,017 1,225 Less: Accumulated depreciation and amortization (630) (782) $ 387 $ 443

Accounts Payable and Other Ac_2

Accounts Payable and Other Accrued Liabilities (Tables)	9 Months Ended
Accounts Payable and Other Accrued Liabilities (Tables)	Sep. 30, 2024
Accounts Payable and Other Accrued Liabilities
Schedule of accounts payable and other accrued liabilities	September 30, December 31, 2024 2023 (in thousands) Accounts payable and accruals $ 2,513 $ 3,586 Accrued employee compensation and benefits 679 1,281 Income taxes payable (Note 13) 80 32 $ 3,272 $ 4,899

Asset Retirement and Reclamat_2

Asset Retirement and Reclamation Liabilities (Tables)	9 Months Ended
Asset Retirement and Reclamation Liabilities (Tables)	Sep. 30, 2024
Asset Retirement and Reclamation Liabilities
Schedule of asset retirement obligations	September 30, December 31, 2024 2023 (in thousands) Current asset retirement and reclamation liabilities $ 150 $ 150 Non-current asset retirement and reclamation liabilities 305 296 $ 455 $ 446
Summary of activity in the Velardena Properties ARO	Nine Months Ended September 30, 2024 2023 (in thousands) Balance at January 1, $ 446 $ 446 Changes in estimates, and other — — Accretion expense 9 — Balance at September 30, $ 455 $ 446

Other Liabilities (Tables)

Other Liabilities (Tables)	9 Months Ended
Other Liabilities (Tables)	Sep. 30, 2024
Other Liabilities
Schedule of other current liabilities	September 30, December 31, 2024 2023 (in thousands) Insurance premium financing $ 55 $ 269 Operating lease liability 46 105 Litigation accrual (Note 16) — 250 Current asset retirement and reclamation liabilities 150 150 $ 251 $ 774
Schedule of other long-term liabilities	September 30, December 31, 2024 2023 (in thousands) Operating lease liability $ — $ 10 Deposits and other — 18 $ — $ 28

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Sep. 30, 2024
Fair Value Measurements
Schedule of financial assets and liabilities at fair value by respective level of the fair value hierarchy	Level 1 Level 2 Level 3 Total (in thousands) At September 30, 2024 Assets: Cash and cash equivalents $ 1,777 $ — $ — $ 1,777 $ 1,777 $ — $ — $ 1,777 At December 31, 2023 Assets: Cash and cash equivalents $ 3,766 $ — $ — $ 3,766 Short-term investments 11 — — 11 $ 3,777 $ — $ — $ 3,777

Equity (Tables)

Equity (Tables)	9 Months Ended
Equity (Tables)	Sep. 30, 2024
Equity
Schedule of status of the restricted stock grants	Nine Months Ended September 30, 2024 2023 Weighted Weighted Average Average Grant Date Grant Date Number of Fair Value Number of Fair Value Restricted Stock Grants Shares Per Share Shares Per Share Outstanding at beginning of period 5,800 $ 8.89 19,800 $ 10.95 Granted during the period — — — — Restrictions lifted during the period (3,936) 9.75 (12,933) 11.97 Forfeited during the period (534) 9.75 — — Outstanding at end of period 1,330 $ 6.00 6,867 $ 9.02
Schedule of restricted stock units	Nine Months Ended September 30, 2024 2023 Weighted Weighted Average Average Grant Date Grant Date Number of Fair Value Number of Fair Value Restricted Stock Units Shares Per Share Shares Per Share Outstanding at beginning of period 272,409 $ 13.09 232,409 $ 15.06 Granted during the period 1,200,000 0.41 40,000 1.62 Shares issued during the period (373,493) 3.08 — — Forfeited during the period (28,837) 19.47 — — Outstanding at end of period 1,070,079 $ 2.36 272,409 $ 13.09
Schedule of stock-based compensation	Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in thousands) (in thousands) Restricted stock grants $ 1 $ 20 $ 19 $ 75 Restricted stock units 79 58 315 270 KELTIP units — 14 3 (21) $ 80 $ 92 $ 337 $ 324
Summary of the status of the Company's common stock warrants	Nine Months Ended September 30, 2024 2023 Weighted Weighted Number of Average Number of Average Underlying Exercise Price Underlying Exercise Price Common Stock Warrants Shares Per Share Shares Share Outstanding at beginning of period 11,308,314 $ 1.09 392,155 $ 8.58 Granted during period — — 2,065,174 1.31 Exercised during period 2023 Pre-Funded Warrants (488,572) 0.0001 (637,587) 0.0001 Expired during the period — — — Outstanding at end of period 10,819,742 $ 1.14 1,819,742 $ 3.19 Number of Exercise Common Stock Warrants Warrants Price Expiration Date July 2019 Series A Warrants 338,155 $ 8.75 January 17, 2025 April 2020 Series A Warrants 44,000 $ 0.70 October 22, 2025 April 2020 Series B Warrants 10,000 $ 6.50 October 22, 2025 June 2023 Warrants 1,427,587 $ 1.90 December 26, 2028 November 2023 Series A Warrants 6,000,000 $ 0.70 November 6, 2028 November 2023 Series B Warrants 3,000,000 $ 0.70 May 6, 2025 10,819,742

Sale of Metals and Related Co_2

Sale of Metals and Related Costs (Tables)	9 Months Ended
Sale of Metals and Related Costs (Tables)	Sep. 30, 2024
Sale of Metals and Related Costs
Schedule of revenue	Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (in thousands) (in thousands) Doré sales $ — $ 2,123 $ — $ 9,974 Concentrate sales — 176 — 1,723 Slag and other sales — 256 — 543 Total revenue — 2,555 — 12,240 Less: Treatment, refining and shipping costs — (43) — (538) Total revenue, net $ — $ 2,512 $ — $ 11,702

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
Segment Information (Tables)	Sep. 30, 2024
Segment Information
Schedule of financial information relating to discontinued operations and continuing operations	Exploration, El Costs Depreciation, Quevar, Velardeña Three Months Ended Applicable Depletion and and Administrative Capital September 30, 2024 Revenue to Sales Amortization Expense Pre-Tax Loss (Gain) Total Assets Expenditures Mexico Operations $ — $ — $ 7 $ — $ 401 $ — Corporate, Exploration and Other — — — 1,192 150 — Consolidated $ — $ — $ 7 $ 1,192 $ 551 $ — Nine Months Ended September 30, 2024 Mexico Operations $ — $ — $ 43 $ 510 $ 1,189 $ 744 $ 28 Corporate, Exploration and Other — — 1 3,615 2,719 5,359 — Consolidated $ — $ — $ 44 $ 4,125 $ 3,908 $ 6,103 $ 28 Three Months Ended September 30, 2023 Mexico Operations $ 2,512 $ 3,320 $ 42 $ 408 $ 2,865 $ — Corporate, Exploration and Other — — 2 1,429 (266) — Consolidated $ 2,512 $ 3,320 $ 44 $ 1,837 $ 2,599 $ — Nine Months Ended September 30, 2023 Mexico Operations $ 11,702 $ 11,225 $ 71 $ 1,940 $ 3,099 $ 7,727 $ — Corporate, Exploration and Other — — 2 4,616 3,018 4,577 — Consolidated $ 11,702 $ 11,225 $ 73 $ 6,556 $ 6,117 $ 12,304 $ —

Basis of Preparation of Finan_2

Basis of Preparation of Financial Statements and Nature of Operations (Details)	Jun. 09, 2023 shares	Sep. 30, 2024 $ / shares shares	May 09, 2024 shares	May 08, 2024 shares	Dec. 31, 2023 $ / shares shares	Jun. 08, 2023 shares	May 26, 2023 $ / shares
Basis of Preparation of Financial Statements and Nature of Operations
Common stock, par value (in dollars per share) \| $ / shares		$ 0.01			$ 0.01		$ 0.01
Reverse stock split	0.04
Common stock, shares authorized (in shares) \| shares	28,000,000	100,000,000	100,000,000	28,000,000	100,000,000	350,000,000

Liquidity, Capital Resources _2

Liquidity, Capital Resources and Going Concern (Details) - USD ($)		1 Months Ended	6 Months Ended	9 Months Ended
	Nov. 15, 2024	Nov. 15, 2024	Jun. 30, 2024	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2025	Dec. 31, 2023
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Current assets				$ 2,527,000			$ 8,714,000
Cash and cash equivalents				1,777,000			3,766,000
Current liabilities				4,539,000			$ 5,673,000
Proceeds from sale of assets				139,000	$ 44,000
Velardena and Chicago Mines, the Sulfide Processing Plant
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Proceeds from sale of assets				2,500,000
Velardena Properties
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Proceeds from sale of assets			$ 373,000
Velardena Properties \| Oxide Plant and Water Well
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Includes of deferred revenue				1,000,000
Velardena Properties \| Held for sale \| Oxide Plant and Water Well
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Consideration owed				2,000,000
Value-added tax included in purchase price				480,000
Total purchase price				$ 3,000,000
Subsequent Events
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Cash and cash equivalents	$ 3,600,000	$ 3,600,000
Accounts payable	1,200,000	1,200,000
Subsequent Events \| Velardena Properties
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Proceeds from sale of assets	$ 300,000	$ 300,000
Scenario, Forecast \| Minimum
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Amount of additional capital inflows						$ 1,500,000
Scenario, Forecast \| Maximum
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Amount of additional capital inflows						$ 3,500,000

Assets Held for Sale and Disc_3

Assets Held for Sale and Discontinued Operations - Disposal group (Details)

1 Months Ended

3 Months Ended

6 Months Ended

9 Months Ended

Nov. 15, 2024 USD ($)

Oct. 24, 2024 USD ($)

Aug. 28, 2024 USD ($)

Nov. 15, 2024 USD ($)

Sep. 30, 2024 USD ($)

Sep. 30, 2023 USD ($)

Jun. 30, 2024 USD ($)

Sep. 30, 2024 USD ($) item

Sep. 30, 2023 USD ($)

Sep. 27, 2024 USD ($)

Sep. 03, 2024 USD ($)

Aug. 30, 2024 USD ($)

Jul. 01, 2024 USD ($)

Assets Held for Sale and Discontinued Operations

Proceeds from sale of assets

$ 139,000

$ 44,000

Gain (loss) from discontinued operations, net of taxes (Note 3)

$ 750,000

$ (578,000)

(3,205,000)

$ (1,814,000)

Velardena Properties

Assets Held for Sale and Discontinued Operations

Aggregate purchase price

5,500,000

$ 5,500,000

Total number of agreement for sale of assets | item

Velardena and Chicago Mines, the Sulfide Processing Plant

Assets Held for Sale and Discontinued Operations

Number of agreement for sale of assets completed | item

Proceeds from sale of assets

$ 2,500,000

Oxide Plant and Water Well

Assets Held for Sale and Discontinued Operations

Aggregate purchase price

$ 3,000,000

Velardena Properties

Assets Held for Sale and Discontinued Operations

Proceeds from sale of assets

$ 373,000

Asset Impairment Charges

$ 411,000

Velardena Properties | Subsequent Events

Assets Held for Sale and Discontinued Operations

Proceeds from sale of assets

$ 300,000

Velardena Properties | Oxide Plant and Water Well

Assets Held for Sale and Discontinued Operations

Includes of deferred revenue

1,000,000

Velardena Properties | Oxide Plant and Water Well | Sale, discontinued operations

Assets Held for Sale and Discontinued Operations

Includes of deferred revenue

1,000,000

Velardena Properties | Oxide Plant and Water Well | Subsequent Events | Sale, discontinued operations

Assets Held for Sale and Discontinued Operations

Total purchase price

$ 3,000,000

Silex Argentina Transaction | Sale, discontinued operations

Assets Held for Sale and Discontinued Operations

Transaction pursuant to Butte would acquire shares

100%

Total purchase price

$ 500,000

$ 3,500,000

Non-refundable cash payment

500,000

$ 500,000

Gain (loss) from discontinued operations, net of taxes (Note 3)

$ 500,000

Silex Argentina Transaction | Subsequent Events | Sale, discontinued operations

Assets Held for Sale and Discontinued Operations

Total purchase price

$ 2,500,000

Proceeds from Divestiture of Businesses

$ 2,500,000

Minera Labri | Sale, not discontinued operations

Assets Held for Sale and Discontinued Operations

Proceeds from Divestiture of Businesses

$ 445,000

Assets Held for Sale and Disc_4

Assets Held for Sale and Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Carrying amounts of major classes of assets included as part of discontinued operations
Total current assets held for sale					$ 830
Carrying amounts of major classes of liabilities included as part of discontinued operations
Current liabilities held for sale	$ 1,016		$ 1,016
Held for sale
Major classes of line items constituting pretax profit of discontinued operations
Sale of metals	128		1,440
Cost of metals sold	(583)		(6,026)
Velardea care and maintenance costs		$ (310)		$ (905)
El Quevar Project Expenses	(150)	(117)	(441)	(435)
Reclamation expense	(59)	(75)	(212)	(222)
Asset impairment expense			(411)
Other operating income, net	856	28	3,571	55
Severance, termination benefits and other operating costs	569		(940)
Depreciation and amortization	(11)	(104)	(186)	(307)
Loss from discontinued operations before income taxes	750	(578)	(3,205)	(1,814)
Loss from discontinued operations, net of taxes	750	$ (578)	(3,205)	$ (1,814)
Carrying amounts of major classes of assets included as part of discontinued operations
Inventories, net					830
Total current assets held for sale					830
Property, plant and equipment, net	2,889		2,889		5,378
Total assets held for sale	2,889		2,889		6,208
Carrying amounts of major classes of liabilities included as part of discontinued operations
Current liabilities held for sale	1,016		1,016
Asset retirement and reclamation liabilities	2,941		2,941		3,800
Total liabilities held for sale	3,957		3,957		3,800
Velardena Properties \| Held for sale
Carrying amounts of major classes of assets included as part of discontinued operations
Property, plant and equipment, net	500		500		3,000
Silex Argentina El Quevar mineral properties \| Held for sale
Carrying amounts of major classes of assets included as part of discontinued operations
Property, plant and equipment, net	$ 2,300		$ 2,300		$ 2,400

Cash and Cash Equivalents (Deta

Cash and Cash Equivalents (Details) - USD ($)	1 Months Ended	3 Months Ended	12 Months Ended
Cash and Cash Equivalents (Details) - USD ($)	Apr. 30, 2021	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2024
Cash and Cash Equivalents
Cash and cash equivalents			$ 3,766,000	$ 1,777,000
Cash and cash equivalent, frozen bank balance	$ 153,000		$ 153,000
Amount awarded to settle the lawsuit		$ 250,000

Prepaid Expenses and Other As_3

Prepaid Expenses and Other Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Prepaid Expenses and Other Assets
Prepaid insurance	$ 113	$ 319
Recoupable deposits and other	391	602
Prepaid expenses and other assets	$ 504	$ 921

Value Added Tax Receivable, N_2

Value Added Tax Receivable, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Value added tax receivable	$ 239	$ 3,135
Velardena Properties
Value added tax receivable	2,900
MEXICO
Value added tax receivable	200	3,100
VAT receivables offset against VAT payable	$ 300	$ 800

Property, Plant and Equipment_3

Property, Plant and Equipment, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment, Net
Property, plant and equipment, gross	$ 1,017	$ 1,225
Less: Accumulated depreciation and amortization	(630)	(782)
Property, plant and equipment, net	387	443
Exploration properties
Property, Plant and Equipment, Net
Property, plant and equipment, gross	150	150
Royalty properties
Property, Plant and Equipment, Net
Property, plant and equipment, gross	200	200
Buildings
Property, Plant and Equipment, Net
Property, plant and equipment, gross		48
Mining equipment and machinery
Property, Plant and Equipment, Net
Property, plant and equipment, gross	250	408
Other furniture and equipment
Property, Plant and Equipment, Net
Property, plant and equipment, gross	$ 417	$ 419

Accounts Payable and Other Ac_3

Accounts Payable and Other Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Accounts Payable and Other Accrued Liabilities
Accounts payable and accruals	$ 2,513	$ 3,586
Accrued employee compensation and benefits	679	1,281
Income taxes payable (Note 13)	80	32
Accounts payable and other accrued liabilities	$ 3,272	$ 4,899

Asset Retirement and Reclamat_3

Asset Retirement and Reclamation Liabilities (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Asset Retirement and Reclamation Liabilities
Maximum term available to begin reclamation activity	3 years
Current asset retirement and reclamation liabilities	$ 150		$ 150
Non-current asset retirement and reclamation liabilities	305		296
Total	455	$ 446	$ 446
Summary of activity in the Velardena Operations ARO
ARO, Beginning balance	446	446
Changes in estimates, and other	0	0
Accretion expense	9	0
ARO, Ending balance	$ 455	$ 446

Other Liabilities (Details)

Other Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Other Liabilities
Insurance Premium financing	$ 55	$ 269
Operating lease liability	46	105
Litigation accrual (Note 16)		250
Current asset retirement and reclamation liabilities	150	150
Other current liabilities	$ 251	774
Operating lease liability		10
Deposits and other		18
Other Long-Term Liabilities		$ 28

Fair value measurements (Detail

Fair value measurements (Details) - USD ($) $ in Thousands	9 Months Ended
Fair value measurements (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fabled Copper Corp. \| Sale, not discontinued operations \| Binding Letter of Intent Agreement
Fair value Assumptions
Consideration received in shares \| shares	200,000
Level 1 \| Fabled Copper Corp. \| Binding Letter of Intent Agreement
Fair value Assumptions
Investment shares held (in shares)		20,000
Fair Value, Measurements, Recurring
Fair value measurements
Cash and cash equivalents	$ 1,777	$ 3,766
Short-term investments		11
Assets	1,777	3,777
Fair Value, Measurements, Recurring \| Level 1
Fair value measurements
Cash and cash equivalents	1,777	3,766
Short-term investments		11
Assets	$ 1,777	$ 3,777

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended	9 Months Ended
Income Taxes (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2024	Dec. 31, 2023
Income Taxes
Current tax expense	$ 0	$ 0
Net deferred tax assets	0	0	$ 0
Net deferred tax liabilities	0	0	0
Unrecognized tax benefits	$ 0	$ 0	$ 0

Equity - Offering and Private P

Equity - Offering and Private Placement Transaction (Details)				3 Months Ended		9 Months Ended
	Nov. 06, 2023 USD ($) $ / shares shares	Jun. 26, 2023 USD ($) $ / shares shares	Jun. 09, 2023 shares	Mar. 31, 2024 USD ($) shares	Dec. 31, 2023 USD ($) $ / shares shares	Sep. 30, 2024 USD ($) $ / shares shares	Sep. 30, 2023 USD ($) $ / shares shares	May 09, 2024 shares	May 08, 2024 shares	Jun. 08, 2023 shares	May 26, 2023 $ / shares	Dec. 31, 2022 $ / shares
Subsidiary, Sale of Stock [Line Items]
Common stock, par value (in dollars per share) \| $ / shares					$ 0.01	$ 0.01					$ 0.01
Reverse stock split			0.04
Common stock, shares authorized (in shares)			28,000,000		100,000,000	100,000,000		100,000,000	28,000,000	350,000,000
Exercise price of warrants (in dollars per share) \| $ / shares					$ 1.09	$ 1.14	$ 3.19					$ 8.58
Proceeds from issuance of common stock, net of issuance costs \| $							$ 3,694,000
Amortization of deferred cost \| $							$ 45,000
November 2023 Pre-Funded Warrants
Subsidiary, Sale of Stock [Line Items]
Net proceeds \| $				$ 48.86	$ 70.89
Number of warrants exercised				488,572	798,940
Offering And Private Placement Transaction
Subsidiary, Sale of Stock [Line Items]
Net proceeds \| $		$ 1,900,000
June 2023 Offering
Subsidiary, Sale of Stock [Line Items]
Aggregate number of common stock sold (Shares)		790,000
Purchase price (in dollars per shares) \| $ / shares		$ 1.45
Warrants to purchase common stock		637,587
Purchase price per warrant \| $ / shares		$ 1.4499
November 2023 Offering
Subsidiary, Sale of Stock [Line Items]
Common stock, par value (in dollars per share) \| $ / shares	$ 0.01
Number of shares to be sold	4,712,488
Proceeds from issuance of common stock, net of issuance costs \| $	$ 3,800,000
November 2023 Offering \| Prefunded Warrants And Common Warrants November 2023
Subsidiary, Sale of Stock [Line Items]
Warrants to purchase common stock	1,287,512
November 2023 Offering \| Series A Warrants
Subsidiary, Sale of Stock [Line Items]
Warrants to purchase common stock	6,000,000
November 2023 Offering \| Series B Warrants
Subsidiary, Sale of Stock [Line Items]
Warrants to purchase common stock	3,000,000
June 2023 Private Placement
Subsidiary, Sale of Stock [Line Items]
Number of common shares which can be purchased with each warrant		1,427,587
Exercise price of warrants (in dollars per share) \| $ / shares		$ 1.90
ATM Agreement
Subsidiary, Sale of Stock [Line Items]
Aggregate number of common stock sold (Shares)						0	308,930
Purchase price (in dollars per shares) \| $ / shares							$ 6.19
Proceeds from issuance of common stock, net of issuance costs \| $							$ 1,839,000
Amortization of deferred cost \| $						$ 0
Unamortized deferred cost \| $					$ 0	$ 0

Equity - Equity Incentive Plans

Equity - Equity Incentive Plans (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Weighted Average Grant Date Fair Value Per Share - Non-option
Stock-based compensation expense	$ 80	$ 92	$ 337	$ 324
Restricted Stock
Number of Shares - Non-option
Outstanding at beginning of period (in shares)			5,800	19,800
Restrictions lifted during the period (in shares)			(3,936)	(12,933)
Forfeited during the period (in shares)			(534)
Outstanding at end of period (in shares)	1,330	6,867	1,330	6,867
Weighted Average Grant Date Fair Value Per Share - Non-option
Outstanding at beginning of year (in dollars per share)			$ 8.89	$ 10.95
Restrictions lifted during the period (in dollars per share)			9.75	11.97
Forfeited during the period (in dollars per share)			9.75
Outstanding at end of year (in dollars per share)	$ 6	$ 9.02	$ 6	$ 9.02
Stock-based compensation expense	$ 1	$ 20	$ 19	$ 75
Restricted Stock Units (RSUs)
Number of Shares - Non-option
Outstanding at beginning of period (in shares)			272,409	232,409
Granted during the period (in shares)			1,200,000	40,000
Shares issued during the period (in shares)			(373,493)
Forfeited during the period (in shares)			(28,837)
Outstanding at end of period (in shares)	1,070,079	272,409	1,070,079	272,409
Weighted Average Grant Date Fair Value Per Share - Non-option
Outstanding at beginning of year (in dollars per share)			$ 13.09	$ 15.06
Granted during the period (in dollars per share)			0.41	1.62
Shares issued during the period (in dollars per share)			3.08
Forfeited during the period (in dollars per share)			19.47
Outstanding at end of year (in dollars per share)	$ 2.36	$ 13.09	$ 2.36	$ 13.09
Stock-based compensation expense	$ 79	$ 58	$ 315	$ 270
Units \| Officers
Weighted Average Grant Date Fair Value Per Share - Non-option
Stock-based compensation expense		$ 14	$ 3	$ (21)
Key Employee Long-Term Incentive Plan \| Units \| Officers
Number of Shares - Non-option
Outstanding at beginning of period (in shares)			168,000
Outstanding at end of period (in shares)	0		0

Equity - Common Stock Warrants

Equity - Common Stock Warrants (Details) - $ / shares	9 Months Ended
Equity - Common Stock Warrants (Details) - $ / shares	Sep. 30, 2024	Sep. 30, 2023
Number of Underlying Shares
Outstanding, beginning balance (in shares)	11,308,314	392,155
Granted during period (in shares)		2,065,174
Outstanding, end balance (in shares)	10,819,742	1,819,742
Weighted Average Exercise Price Per Share
Outstanding, beginning balance (in dollars per share)	$ 1.09	$ 8.58
Granted during period (in dollars per share)		1.31
Outstanding, end balance (in dollars per share)	$ 1.14	$ 3.19
2023 Pre Funded Warrants
Number of Underlying Shares
Exercised during period (in shares)	(488,572)	(637,587)
Weighted Average Exercise Price Per Share
Exercised during period (in dollar per share)	$ 0.0001	$ 0.0001

Equity - Common stock warrant_2

Equity - Common stock warrants outstanding (Details) - $ / shares	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)	10,819,742	11,308,314	1,819,742	392,155
Exercise price of warrants (in dollars per share)	$ 1.14	$ 1.09	$ 3.19	$ 8.58
July 2019 Series A Warrants
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)	338,155
Exercise price of warrants (in dollars per share)	$ 8.75
April 2020 Series A Warrants
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)	44,000
Exercise price of warrants (in dollars per share)	$ 0.70
April 2020 Series B Warrants
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)	10,000
Exercise price of warrants (in dollars per share)	$ 6.50
June 2023 Warrants
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)	1,427,587
Exercise price of warrants (in dollars per share)	$ 1.90
November 2023 Series A Warrants
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)	6,000,000
Exercise price of warrants (in dollars per share)	$ 0.70
November 2023 Series B Warrants
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)	3,000,000
Exercise price of warrants (in dollars per share)	$ 0.70

Sale of Metals and Related Co_3

Sale of Metals and Related Costs (Details) - USD ($)	3 Months Ended		9 Months Ended
Sale of Metals and Related Costs (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Sale of Metals and Related Costs
Total revenue		$ 2,555,000		$ 12,240,000
Less: Treatment, refining and shipping costs		(43,000)		(538,000)
Total revenue, net		2,512,000		11,702,000
Sales of Metals
Sale of Metals and Related Costs
Total revenue	$ 0		$ 0
Dor sales
Sale of Metals and Related Costs
Total revenue		2,123,000		9,974,000
Concentrate sales
Sale of Metals and Related Costs
Total revenue		176,000		1,723,000
Slag and other sales
Sale of Metals and Related Costs
Total revenue		$ 256,000		$ 543,000

Commitments and Contingencies (

Commitments and Contingencies (Details)	1 Months Ended	9 Months Ended	12 Months Ended
Commitments and Contingencies (Details)	Apr. 30, 2021 USD ($)	Sep. 30, 2024 USD ($) defendant employee	Dec. 31, 2023 USD ($)	Mar. 31, 2024 USD ($)
Contingencies
Cash and cash equivalent, frozen bank balance	$ 153,000		$ 153,000
Accrued liability			250,000
Potential Lawsuit From Unifin Financiera \| Threatened Litigation
Contingencies
Accrued liability			$ 250,000	$ 113,000
Employee Labor Claims
Contingencies
Loss contingency, number of defendants \| employee		16
Estimate of possible loss		$ 230,000
Supplier Lawsuits
Contingencies
Loss contingency, number of defendants \| defendant		4
Accrued liability		$ 214,000

Segment Information (Details)

Segment Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
Segment Information (Details) $ in Thousands	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) segment	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Segment Information
Number of reportable segments \| segment			2
Revenue		$ 2,512		$ 11,702
Costs Applicable to Sales		3,320		11,225
Depreciation, Depletion and Amortization	$ 7	44	$ 44	73
Exploration, El Quevar, Velardena and Administrative Expense	1,192	1,837	4,125	6,556
Pre-Tax Loss (Gain)	551	2,599	3,908	6,117
Total Assets	6,103	12,304	6,103	12,304	$ 14,910
Capital Expenditures			$ 28
Mexico Operations
Segment Information
Number of reportable segments \| segment			1
Revenue		2,512		11,702
Costs Applicable to Sales		3,320		11,225
Depreciation, Depletion and Amortization	7	42	$ 43	71
Exploration, El Quevar, Velardena and Administrative Expense		408	510	1,940
Pre-Tax Loss (Gain)	401	2,865	1,189	3,099
Total Assets	744	7,727	744	7,727
Capital Expenditures			28
Corporate, Exploration and Other
Segment Information
Depreciation, Depletion and Amortization		2	1	2
Exploration, El Quevar, Velardena and Administrative Expense	1,192	1,429	3,615	4,616
Pre-Tax Loss (Gain)	150	(266)	2,719	3,018
Total Assets	$ 5,359	$ 4,577	$ 5,359	$ 4,577

Subsequent Events (Details)

1 Months Ended

2 Months Ended

6 Months Ended

9 Months Ended

Nov. 21, 2024 USD ($) payment

Nov. 15, 2024 USD ($)

Oct. 25, 2024 USD ($)

Oct. 24, 2024 USD ($)

Nov. 15, 2024 USD ($)

Jun. 30, 2024 USD ($)

Sep. 30, 2024 USD ($)

Sep. 30, 2023 USD ($)

Nov. 01, 2024 USD ($)

Sep. 27, 2024 USD ($)

Sep. 03, 2024 USD ($)

Aug. 30, 2024 USD ($)

Subsequent Events

Proceeds from sale of assets

$ 139,000

$ 44,000

Velardena Properties

Subsequent Events

Proceeds from sale of assets

$ 373,000

Velardena Properties | Held for sale | Oxide Plant and Water Well

Subsequent Events

Consideration still owed

2,000,000

Total consideration

3,000,000

Silex Argentina Transaction | Sale, discontinued operations

Subsequent Events

Percentage of AVM shall purchase

100%

Total consideration

$ 500,000

$ 3,500,000

Non-refundable cash payment

$ 500,000

Subsequent Events | Velardena Properties

Subsequent Events

Proceeds from sale of assets

$ 300,000

Asset sale amount past due in delinquency

$ 1,300,000

Subsequent Events | Velardena Properties | Sale, discontinued operations | Oxide Plant and Water Well

Subsequent Events

Consideration still owed

1,700,000

Total consideration

$ 3,000,000

Subsequent Events | Silex Argentina Transaction | Sale, discontinued operations

Subsequent Events

Percentage of equity interest sold

100%

Acquisition agreement cash

$ 2,500,000

Total consideration

$ 2,500,000

Subsequent Events | Minera De Cordilleras S De Rl De Cv | Sale, discontinued operations | Yoquivo Project

Subsequent Events

Percentage of AVM shall purchase

100%

Subsequent Events | Minera De Cordilleras S De Rl De Cv | Sale, not discontinued operations | Yoquivo Project

Subsequent Events

Proceeds from sale of assets

$ 295,000

Total consideration

$ 275,000

$ 570,000

$ 275,000

Number of first payments | payment

Non-refundable cash payment

$ 20,000

Number of days to carry out due diligence

7 days

Breakup fee percentage

20%